New York State Common Retirement Fund Buys 13,744 Shares of Costamare Inc. (NYSE:CMRE)

New York State Common Retirement Fund lifted its stake in Costamare Inc. (NYSE:CMRE) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,623 shares of the shipping company’s stock after acquiring an additional 13,744 shares during the quarter. New York State Common Retirement Fund owned 0.16% of Costamare worth $1,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Costamare by 1,282.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock valued at $2,063,000 after purchasing an additional 198,922 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Costamare in the third quarter worth approximately $141,000. Jump Financial LLC bought a new position in Costamare in the third quarter worth approximately $464,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Costamare by 63.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,037 shares of the shipping company’s stock worth $406,000 after acquiring an additional 15,099 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Costamare by 177.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock valued at $2,004,000 after acquiring an additional 133,225 shares during the period. 58.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Stifel Nicolaus boosted their price objective on Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research note on Friday, April 19th.

Costamare Stock Up 3.6 %

CMRE opened at $13.10 on Thursday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 4.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The firm’s fifty day moving average is $11.45 and its 200 day moving average is $10.65. Costamare Inc. has a fifty-two week low of $7.71 and a fifty-two week high of $13.11.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The business had revenue of $494.85 million for the quarter, compared to the consensus estimate of $419.00 million. During the same period in the previous year, the business earned $0.61 earnings per share. On average, sell-side analysts forecast that Costamare Inc. will post 2.73 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Friday, April 19th were issued a $0.115 dividend. The ex-dividend date was Thursday, April 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.51%. Costamare’s dividend payout ratio is presently 15.59%.

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